Latest news with #TeckResources
Yahoo
4 hours ago
- Business
- Yahoo
Teck Resources (TECK) Looks to Ramp Up Output of Germanium, an Important Chipmaking Metal
Teck Resources Limited (NYSE:TECK) is one of the best high growth stocks. Teck Resources is currently evaluating strategies to scale up its germanium production, which is an essential material in semiconductor manufacturing. According to Doug Brown, Vice President of Communications and Government Affairs, the company is engaged in funding discussions with the governments of Canada and the United States to support this expansion plan. Teck's expansion initiative is part of a larger bid to diversify global supply chains for critical minerals essential to the technology and defense sectors. This comes in light of escalating geopolitical tensions and trade barriers that have increased concerns over the heavy reliance on China for the production and refinement of these major resources. A close up of an automated machine processing other Industrial Metals & Mining resources. China, responsible for nearly 60% of the world's refined germanium supply, recently imposed export restrictions on germanium, gallium, and antimony. These metals have substantial military applications, specifically targeting the United States. This action has further raised trade tensions between the two global powers, following the American government's efforts to constrain China's semiconductor industry. Taking this into account, Teck Resources is looking at ways to expand its processing capacity, potentially by building on its current technology. The company sources germanium as a by-product from its Red Dog zinc operations in Alaska, refines it in British Columbia, and exports most of it to the US without tariffs under the USMCA agreement. While Canada's Energy Ministry has not commented on whether it will fund Teck's plans, it has emphasized that broader trade talks with the US are ongoing, and that Canada is open to working closely with its neighbor to strengthen critical mineral supply chains. Teck Resources Limited (NYSE:TECK) is a Canadian mining company based in Vancouver that explores, produces, and refines metals like copper, zinc, lead, and silver across Asia, the Americas, and Europe. While we acknowledge the potential of TECK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
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Teck Resources (TECK) Falls 6% on Lower Growth Outlook
We recently published . Teck Resources Limited (NYSE:TECK) is one of the worst-performing stocks on Friday. Teck Resources dropped its share prices by 6.04 percent on Friday, the third day, to close at $33 apiece as investor sentiment was dampened by a lower revised outlook for the rest of the year. In a statement following the release of its second quarter earnings performance, Teck Resources Limited (NYSE:TECK) reduced its production outlook for copper and molybdenum amid challenges on tailings management facility (TMF) development work, which largely impacts its production performance. Photo by Shane Cottle on Unsplash For the rest of the year, Teck Resources Limited (NYSE:TECK) said that annual copper production guidance was lowered to 470,000-525,000 tons from 490,000-565,000 tons previously. Meanwhile, annual molybdenum production was lowered markedly to 3,800-5,400 from 5,100-7,400 tons prior. In the second quarter of the year, Teck Resources Limited (NYSE:TECK) expanded its net income from continuing operations attributable to shareholders by 881 percent to CA$206 million from CA$21 million in the same period last year. Revenues increased by 12 percent to CA$2.02 billion from CA$1.8 billion year-on-year. While we acknowledge the potential of TECK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
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Teck secures approval for Highland Valley copper mine life extension through 2046
Canadian mining company Teck Resources has received approval to construct a life extension project at its Highland Valley Copper mine in British Columbia. The project will extend the mine's operational life from 2028 to 2046. The company's board sanctioned the construction of the project in July, following the issuance of an environmental assessment certificate and other necessary permits from the British Columbia Government. The project involves enhancements and increased capacity requirements to extend the mine's operational life, as well as a mine pushback that necessitates additional waste stripping to access high-quality ore in the Valley Pit. This initiative is expected to support average copper production of 132,000 tonnes per annum (tpa) throughout the mine's lifespan. The estimated capital expenditure (capex) for the project ranges between C$2.1bn and C$2.4bn. The company plans to allocate these funds from the second half of 2025 through 2028. The capital investment for the project encompasses the development of site infrastructure and facilities, the expansion of the mining fleet, upgrades to the grinding circuit, an increase in tailings storage capacity, and improvements to power and water systems. Teck Resources CEO Jonathan Price said in a statement: "This quarter marked a significant milestone in the growth of Teck's copper production into the future, with regulatory approval and Board sanction for construction of the Highland Valley Copper Mine Life Extension project.' The life extension project has increased the company's previous copper and molybdenum production forecast for 2028 by 20,000t and 1,100t, respectively. Due to commence in August, the project aims to preserve around 1,500 direct jobs and is expected to generate approximately 2,900 positions during the construction phase. In September 2024, Teck Resources revealed a new corporate structure focused on two regional business divisions – North America, which includes Highland Valley, and Latin America – as part of its transition to a pure-play energy transition metals company. "Teck secures approval for Highland Valley copper mine life extension through 2046" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
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Canada's Teck Resources beats profit estimates for second quarter
(Reuters) -Canadian miner Teck Resources beat second-quarter profit estimates on Thursday, helped by improved profitability at its Trail operations. Teck's Trail operations, located in British Columbia, is one of the world's largest fully integrated zinc and lead smelting and refining complexes, according to the company website. The company reported an adjusted profit of 38 Canadian cents per share for the quarter ended June 30, compared with analysts' average estimate of 27 Canadian cents per share, according to LSEG data. Teck said London Metal Exchange (LME) copper prices declined by 2% in the June quarter compared with a year earlier and averaged $4.32 per pound. The company produced 109,100 metric tons of copper in the reported quarter, and cut its full-year copper production guidance to 470,000 tons to 525,000 tons. Teck expects to produce 525,000 tons to 575,000 tons of zinc in the current year. The results come against the backdrop of U.S. President Donald Trump's threat to impose a 50% tariff on copper imports, starting August 1. Teck exports the vast majority of its copper to Asia and Europe. Trump's proposed 50% tariff on U.S. copper imports is unlikely to directly impact Teck, given its minimal exposure to the U.S. market. However, the tariff could tighten global supply and push prices higher, indirectly boosting Teck's revenue and margins.
CTV News
6 days ago
- Business
- CTV News
Teck copper mine extension project to move forward as company's Q2 profit rises
Teck Resources Ltd. says construction of its Highland Valley Copper Mine Life Extension Project will move forward after receiving board approval, as the company reported its second-quarter profit and revenue rose. THE CANADIAN PRESS/Jonathan Hayward VANCOUVER — Teck Resources Ltd. says construction of its Highland Valley Copper Mine Life Extension Project will move forward after receiving board approval as the company reported its second-quarter profit and revenue rose. The project, expected to cost up to $2.4 billion, will produce 132,000 tonnes of copper per year over the life of mine, located in south-central B.C. The mining company says its profit from continuing operations attributable to shareholders amounted to $206 million or 41 cents per diluted share for the quarter ended June 30. The result compared with a profit of $21 million or four cents per diluted share in the same quarter last year. On an adjusted basis, Teck says its profit from continuing operations amounted to 38 cents per diluted share for its latest quarter, up from 12 cents per diluted share a year earlier. Revenue for the quarter totalled $2.02 billion, up from $1.80 billion. This report by The Canadian Press was first published July 24, 2025.
